There is no way you can lose with that trade. When they realize they are wasting money paying distributions and dividends to be used to buyback their debt with a 85 pct discount what do you think is going to happen ?. Management lives in LIMBO.. Wake up management ! Bonds should trade at 40 and stocks at 0,25 soon with no distribution. Thats is my bet. No other way to survive. I hope this helps. You still have time to be in the correct capital structure..
I was watching HOV because I was looking to buy the bonds. But after I saw is trading 3 times 2017 projected earnings+TAX credits+ reorganized, etc. Iam finding more upside in the stock. I placed an alarm in 1,75with volume. Will buy only on break out. can easely go back to 4,5 in the next months..